EXHIBIT 12.1 NIKE, Inc. Computation of Ratio of Earnings to Fixed Charges

The following disclosure reflects the Company's continuing operations:

	Year Ended May 31,
(In millions)	2014				2013				2012				2011				2010
Net income from continuing operations	$	2,693			$	2,451			$	2,257			$	2,163			$	1,916
Income taxes	851				805				754				689				612
Income before income taxes	3,544				3,256				3,011				2,852				2,528
Add fixed charges
Interest expense(1)	58				23				31				32				33
Interest component of leases(2)	53				48				42				39				36
TOTAL FIXED CHARGES	111				71				73				71				69
Earnings before income taxes and fixed charges(3)	$	3,655			$	3,327			$	3,084			$	2,923			$	2,597
Ratio of earnings to total fixed charges	32.9				46.9				42.2				41.2				37.6

(1)	Interest expense includes interest both expensed and capitalized.

(2)	Interest component of leases includes one-tenth of rental expense which approximates the interest component of operating leases.

(3)	Earnings before income taxes and fixed charges are exclusive of capitalized interest.